Without private rental sector UK housing would be 'in desperate straits'

Posted: 01 Feb 2010 10:17:18 GMT

If the private rental sector was not there to act as a safety net, the UK housing market would be "in desperate straits", one expert has commented.

A spokesman for the National Approved Letting Scheme says that renting gives many people more flexibility.

"Four or five years ago it was always felt that it was imperative to get onto the housing ladder. Now more and more people who could afford to get onto the housing ladder actually prefer to rent," he adds.

His comments come in response to recent findings from the British Property Federation, which revealed that private landlords could be the only way to fill the housing gap in Britain.

During the fourth quarter of 2009, some 41 per cent of members from the Association of Residential Letting Agents reported that they had more potential tenants than available properties.

A further 54 per cent of those questioned felt that due to the economic downturn many consumers are being forced to rent rather than buy a property.

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